WTI… A short term top

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Middle East tensions aside …WTI is in the process of forming a bearish Wolfe Wave top as well as heading into a resistance area in effect for the past month.

This is one of the components of TV’s August Leap challenge.

I would be looking to establish a short/cover a long on any hesitation here.

Please bear in mind we have a lot of market moving news this week.

A tight stop is in order or just wait for the the markets reaction to this news.

Not investment advice. Do your own due diligence.

S

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Update…. Some softness showing up

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Finally… lots of volatility ahead with CPI tomorrow and Retail sales on Thursday.. (US)

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1/3 position taken off...

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update

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closed...